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China's foreign exchange reserves fall to 3.2 trillion USD in April

Updated: May 8, 2024 Source: Xinhua News Agency
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BEIJING, May 7 (Xinhua) -- China's foreign exchange reserves fell to 3.2 trillion U.S. dollars at the end of April, down 1.38 percent from the end of March, the State Administration of Foreign Exchange said on Tuesday.

The country's foreign exchange regulator attributed this decrease to the combined impact of currency translation and asset price changes.

The U.S. dollar index rose and the prices of global financial assets declined last month, affected by the monetary policy expectations of major economies and their macroeconomic data, the regulator said.

China's economy has a solid foundation, strong resilience and huge potential, which is conducive to maintaining the stable scale of its forex reserves, the regulator added.

Editor: Duan Jing